The startup company Instagram, a photo sharing app, which never made a dime, as they say, just got bought for $1 billlion:
Facebook will buy the photo-sharing app maker for $1 billion in cash and stock just 18 months after it launched. Instagram has a loyal following of 30 million users but never made a dime. <source>
This craziness proves two things, once again:
- Investors and Executives have very short memories…Internet 2000 collapse in valuations? NASDAQ plunging to 1,000 from 5,000? Hey, that’s ancient history;
- The Unites States of America is the greatest, most free nation to ever grace the face of the Earth. We are all lucky to be living here and should kiss the ground often
Only in America, folks, and God Bless America.
I wonder if the Founders of Instagram will vote Republican? They damn well should.